About this BlogWelcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.
Companies in the medical and recreational marijuana industry continue to face an uphill battle for access to financial services. Although a number of states have legalized the medicinal and/or recreational use of marijuana, marijuana remains classified as a Schedule I drug subject to the federal Controlled Substances Act. As such, financial services companies that wish to serve the marijuana industry could find themselves subject to the Bank Secrecy Act and the criminal money laundering provisions. Those challenges are well documented. However, do the same types of challenges exist if a marijuana company wants to sponsor a qualified retirement plan for its employees? Read More ›
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